Sandy Weill, the former Citigroup chief executive and shatterer of Glass-Steagall says the industry needs a return to the separation of commercial and investment banks, while a recent study on HFT reveals that the practice costs long-term investors $2.5 billion per year.
July 27, 2012
6. Dodd-Frank Headache
Investment advisors must now ensure more than ever that they are constantly monitoring and evaluating their systems, particularly those that have undergone any modifications as this is typically where mistakes and omissions are made with these reporting specifications."
— Jonathan Saxton, member of Kinetic Partners, on rule Form PF
Source: Wall Street & Technology: The Biggest Pain Point in Dodd-Frank
